Nigerian bourse recorded a positive performance last week compared with the previous week with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and market capitalization added value.
Although it was a four-day trading week as the Federal Government of Nigeria declared Friday 29th May, 2015 as Public Holiday to commemorate Democracy day, the ASI closed 0.11 per cent higher as against a decline of 0.49 per cent the previous week. Specifically, the ASI closed at 34,310.37, while market capitalization went up by 0.12 per cent to be at N11.659 trillion.

Investors increased their patronage on the eve of the inauguration of the Mohammadu Buhari as the new president of Nigeria. Contrary to last week’s sequence, intra-week trading was even handed as a bearish session to commence and wrap up the week was separated by two bullish sessions between them. However, the bulls overwhelmed the bears as making the benchmark index to close positively.

But the week’s gain witnessed failed to rescue the ASI from its second month-on-month decline as the market shed 1.15 per cent the month of May, while the Year-to-Date return remained negative at 1.0 per cent.

A further analysis of trading during the week showed that four indices finished higher during the week, including the NSE ASeM index. The NSE Industrial index had the best performance amongst the five NSE sector indices with a 1.68 per cent. The NSE Oil/Gas Index followed with a 1.10 per cent gain, while the NSE Insurance Index appreciated by 0.38 per cent. Conversely, the NSE Consumer Goods and Banking indices disappointed with respective losses of 1.10 per cent and 1.0 per cent.

Market Turnover

Investors staked N22.105 billion on 1.799 billion shares in 17,337 deals last week, compared to N16.045b billion on 2.943 billion shares exchanged in 21,306 deals the previous week.
The Financial Services Industry led the activity chart with 1.546 billion shares valued at N8.895 billion traded in 10,394 deals, thus contributing 85.93 per cent and 40.24 per cent to the total equity turnover volume and value respectively. The Services Industry followed with a turnover of 84.137 million shares worth N120.575 million in 497 deals. The third place was occupied by the Consumer Goods Industry with 76.868 million shares worth N9.362 billion in 2,899 deals.

Also traded during the week were a total of 3,474 units of Exchange Traded Products (ETPs) valued at N1.003 million executed in 19 deals compared with a total of 25,211 units valued at N990,777.65 transacted last week in 23 deals.

In addition, a total of 64,465 units of Federal Government and State Bonds valued at N69.372 million were traded this week in seven deals compared with a total of 10,333 units of Federal Government Bonds valued at N11.795 million traded in two deals in the previous week.

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